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Companies (Summary Financial Statement) Regulations (Northern Ireland) 1996

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Ascertainment of entitled person’s wishes

4.—(1) A listed public company may not send a summary financial statement to an entitled person in place of copies of its full accounts and reports, unless the company has ascertained that the entitled person does not wish to receive copies of those documents.

(2) Whether or not an entitled person wishes to receive copies of the full accounts and reports for a financial year is to be ascertained—

(a)from any relevant notification in writing he has given to the company (either as an entitled person or as a person to whom paragraph (5) applies) as to whether he wishes to receive copies of the full accounts and reports or as to whether he wishes, instead of copies of those documents, to receive summary financial statements; or

(b)failing any such express notification, from any failure to respond to an opportunity given to the entitled person (including for this purpose a person to whom paragraph (5) applies) to elect to receive copies of the full accounts and reports either in response to a notice sent by the company under regulation 5, or as part of a relevant consultation of his wishes by the company under regulation 6.

(3) For the purposes of paragraph 2(a), a notification is a relevant notification with respect to a financial year if it relates to that year (whether or not it has been given at the invitation of the company) and if it received by the company not later than 28 days before the first date on which copies of the full accounts and reports are sent out to entitled persons in compliance with Article 246(1) of the 1986 Order with respect to the financial year.

(4) A company may not send a summary financial statement to an entitled person in relation to any financial year in place of copies of the full accounts and reports unless—

(a)the period allowed for laying and delivering full accounts and reports under Article 252 of the 1986 Order(1) for that year has not expired, and

(b)the summary financial statement has been approved by the board of directors and the original statement signed on behalf of the board by a director of the company.

(5) This paragraph applies to a person who is entitled, whether conditionally or unconditionally, to become an entitled person in relation to the company, but who has not yet become such an entitled person.

(1)

Article 252 was substituted by Articles 3 and 13 of the Companies (Northern Ireland) Order 1990

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